Chelsea Music Festival

What it reported doing in 2024

Chelsea music festival celebrates great music by convening world-leading musicians & artists in the performing, culinary, and visual arts for an international audience. The festival invites artists, composers, and performers to collaborate in pursuit of new perspectives in artistic expression.inspired by its chelsea roots, the festival reflects the creativity of one of New York city's most dynamic neighborhoods. Programs span musical genres ranging from classical to contemporary to jazz with a special emphasis on festival commissions by composers whose works are not in the traditional western canon. In addition to its on-the-ground programming, the festival hosts an online library of recordings so music enthusiasts, artists, and students alike can explore unique interpretations of classical, jazz, and contemporary works via high-quality videos of world-class performances and dialogues available for years to come.since 2010, the chelsea music festival has established itself as a critically-acclaimed, accessible and interactive gateway to chamber music in non-traditional concert spaces such as art galleries, public squares, schools, and churches. Artists hail from around the world to partake in nearly two weeks of programming complete with concerts, lectures, exhibitions, family events, and free outreach performances. In 2020, the chelsea music festival inaugurated its online encores and online originals youtube series; online encores presents highlights from our festival archives while online originals presents new and never-before-seen performances and recordings.we are proud to give emerging voices, particularly those of women and people of color, a stage and are working to build an audience and intimate community to support a new generation of musicians, composers, and artists.

Financial Efficiency

• Mission deployment rate: 90.8%; rating input score 91
• Program expense ratio: 81.6%; rating input score 82
• Fundraising efficiency: $34.38 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
• Governance controls: 6 of 8 controls in place; rating input score 75
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -12.8%; rating input score 20; 20th percentile among comparable filings
• Total-asset coverage ratio: 1.02; rating input score 41; 41st percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 50; 50th percentile among comparable filings
• Officer compensation ratio: 10.7%; rating input score 28; 28th percentile among comparable filings

Growth

• Program expense growth: 6.8% per year; rating input score 100; 60th percentile among comparable filings
• Revenue growth: 2% per year; rating input score 100; 34th percentile among comparable filings
• Asset growth: 10.5% per year; rating input score 100; 67th percentile among comparable filings